Millicom, owners of Tigo, has decided to launch a 4G LTE network in Tanzania. Sources say the mobile giant’s decision is in connection with its High profit margin.
Mobile operator launches 4G network in Tanzania
Based on these high profit indices, Millicom has setup Millicom Africa to oversee its long-term investments in Africa, with the aim of managing cost.
Millicom announced in an official statement, that its revenue grew to 16% from 13% last quarter. Representatives of the company also said it realised a double digit organic revenue growth in all markets, with the exception of Chad.
Mauricio Ramos, Millicom CEO said “As my first set of results since joining Millicom at the start of the month, I am pleased to present a strong performance. Underlying organic revenue growth was up 9.7%, demonstrating improvements across both our Latin American and African markets and a continuation of the momentum we saw last year.”
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